Examples of Principal Only Certificate in a sentence
For purposes of the preceding sentence, any Class PO Deferred Amount distributable to a Principal Only Certificate on previous Distribution Dates shall be deemed to have been allocated in respect of the Mortgage Loans as to which the applicable PO Percentage of the principal portion of Realized Losses has previously been allocated to such Class on a pro rata basis (based on the amount of Realized Losses so allocated).
This Certificate is a Principal Only Certificate and does not bear interest.
Such funds shall be invested by the Paying Agent as directed by JEDI, provided that such investments shall be in obligations of or guaranteed by the United States of America or of any agency thereof and backed by the full faith and credit of the United States of America, in commercial paper obligations rated A-1 or P-1 or better by Xxxxx'x Investors Services, Inc.
For purposes of the preceding sentence, any Class PO Deferred Amount distributable to a Principal Only Certificate on previous Distribution Dates shall be deemed to have been allocated in respect of the Mortgage Loans as to which the PO Percentage of the principal portion of Realized Losses has previously been allocated to such Class on a pro rata basis (based on the amount of Realized Losses so allocated).
Notwithstanding the foregoing, however, on each Distribution Date, the Principal Only Certificate will receive the Discount Fraction of all principal payments, including, without limitation, Principal Prepayments, received in respect of each Discount Loan.